RE: Dems and long term mistakes.
November 5, 2014 at 9:17 pm
(This post was last modified: November 5, 2014 at 9:18 pm by Heywood.)
(November 5, 2014 at 8:53 pm)stonedape Wrote: Heywood-
I'm sorry, but you are dead wrong. That fallacy has been disproved time and time again, all over the world. Raising wages, raises the standards. That's a good thing. You get better, more enthusiastic service from employees. You also get a stronger consumer base. They also have the ability to make investments to secure their future.
Athens Greece is the only case I can think of where it totally backfired. They were promised boats and the retirement age of 45. But countries like Swizerland where min wage is $25 an hour have great economies.
Ultimately I am against minimum wage. I am for profit shares. Productivity goes up when it's rewarded directly.
In this country minimum wage was an effective weapon to shut blacks out of the labor market. Before minimum wage laws...black unemployment was equal to or lower than white unemployment.
Minimum wages don't necessarily hurt the economy....what they hurt are people. They help more productive workers get a reward at the expense of less productive less desirable workers.
